Full Text of HB3376 97th General Assembly
HB3376enr 97TH GENERAL ASSEMBLY |
| | HB3376 Enrolled | | LRB097 08172 JDS 48296 b |
|
| 1 | | AN ACT concerning public employee benefits.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Pension Code is amended by changing | 5 | | Section 5-167.1 as follows:
| 6 | | (40 ILCS 5/5-167.1) (from Ch. 108 1/2, par. 5-167.1)
| 7 | | Sec. 5-167.1. Automatic increase in annuity; retirement | 8 | | from service
after September 1, 1967. | 9 | | (a) A policeman who retires from service after September 1, | 10 | | 1967
with at least 20 years of service credit shall, upon | 11 | | either the first
of the month following the first anniversary | 12 | | of his date of retirement
if he is age 60 (age 55 if born before | 13 | | January 1, 1955)
or over on that anniversary date, or upon the | 14 | | first of the month following
his attainment of age 60 (age 55 | 15 | | if born before January 1, 1955)
if it occurs after the first | 16 | | anniversary of his retirement date, have his
then fixed and | 17 | | payable monthly annuity increased by 1 1/2% and such first
| 18 | | fixed annuity as granted at retirement increased by an | 19 | | additional 1 1/2% in
January of each year thereafter up to a | 20 | | maximum increase of 30%. Beginning
January 1, 1983 for | 21 | | policemen born before January 1, 1930, and beginning
January 1, | 22 | | 1988 for policemen born on or after January 1, 1930 but before
| 23 | | January 1, 1940, and beginning January 1, 1996 for policemen |
| | | HB3376 Enrolled | - 2 - | LRB097 08172 JDS 48296 b |
|
| 1 | | born on or after
January 1, 1940 but before January 1, 1945, | 2 | | and beginning January 1, 2000
for policemen born on or after | 3 | | January 1, 1945 but before January 1, 1950, and beginning | 4 | | January 1, 2005
for policemen born on or after January 1, 1950 | 5 | | but before January 1, 1955,
such increases shall be 3% and such | 6 | | policemen shall not be subject to the
30% maximum increase.
| 7 | | Any policeman born before January 1, 1945 who qualifies for | 8 | | a minimum
annuity and retires after September 1, 1967 but has | 9 | | not received the initial
increase under this subsection before | 10 | | January 1, 1996 is entitled to receive
the initial increase | 11 | | under this subsection on (1) January 1, 1996, (2) the
first | 12 | | anniversary of the date of retirement, or (3) attainment of age | 13 | | 55,
whichever occurs last. The changes to this Section made by | 14 | | Public Act
89-12 apply beginning January 1, 1996 and
without | 15 | | regard to whether the policeman or annuitant terminated service | 16 | | before
the effective date of that Act.
| 17 | | Any policeman born before January 1, 1950 who qualifies for | 18 | | a minimum
annuity and retires after September 1, 1967 but has | 19 | | not received the initial
increase under this subsection before | 20 | | January 1, 2000 is entitled to receive
the initial increase | 21 | | under this subsection on (1) January 1, 2000, (2) the
first | 22 | | anniversary of the date of retirement, or (3) attainment of age | 23 | | 55,
whichever occurs last. The changes to this Section made by | 24 | | this amendatory
Act of the 92nd General Assembly apply without | 25 | | regard to whether the policeman
or annuitant terminated service | 26 | | before the effective date of this amendatory
Act.
|
| | | HB3376 Enrolled | - 3 - | LRB097 08172 JDS 48296 b |
|
| 1 | | Any policeman born before January 1, 1955 who qualifies for | 2 | | a minimum
annuity and retires after September 1, 1967 but has | 3 | | not received the initial
increase under this subsection before | 4 | | January 1, 2005 is entitled to receive
the initial increase | 5 | | under this subsection on (1) January 1, 2005, (2) the
first | 6 | | anniversary of the date of retirement, or (3) attainment of age | 7 | | 55,
whichever occurs last. The changes to this Section made by | 8 | | this amendatory
Act of the 94th General Assembly apply without | 9 | | regard to whether the policeman
or annuitant terminated service | 10 | | before the effective date of this amendatory
Act.
| 11 | | (b) Subsection (a) of this Section is
not applicable to an | 12 | | employee receiving a term annuity.
| 13 | | (c) To help defray the cost of such increases in annuity, | 14 | | there shall
be deducted, beginning September 1, 1967, from each | 15 | | payment of salary to a
policeman, 1/2 of 1% of each salary | 16 | | payment concurrently with and in addition
to the salary | 17 | | deductions otherwise made for annuity purposes.
| 18 | | The city, in addition to the contributions otherwise made | 19 | | by it for
annuity purposes under other provisions of this | 20 | | Article, shall make
matching contributions concurrently with | 21 | | such salary deductions.
| 22 | | Each such 1/2 of 1% deduction from salary and each such | 23 | | contribution
by the city of 1/2 of 1% of salary shall be | 24 | | credited to the Automatic
Increase Reserve, to be used to | 25 | | defray the cost of the 1 1/2% annuity
increase provided by this | 26 | | Section. Any balance in such reserve as of the
beginning of |
| | | HB3376 Enrolled | - 4 - | LRB097 08172 JDS 48296 b |
|
| 1 | | each calendar year shall be credited with interest at the
rate | 2 | | of 3% per annum.
| 3 | | Such deductions from salary and city contributions shall | 4 | | continue
while the policeman is in service.
| 5 | | The salary deductions provided in this Section are not | 6 | | subject to
refund, except to the policeman himself, in any case | 7 | | in which a
policeman withdraws prior to qualification for | 8 | | minimum annuity and
applies for refund or applies for annuity, | 9 | | and also where a term annuity
becomes payable. In such cases, | 10 | | the total of such salary deductions
shall be refunded to the | 11 | | policeman, without interest, and charged to the
Automatic | 12 | | Increase Reserve.
| 13 | | (d) Notwithstanding any other provision of this Article, | 14 | | the monthly annuity of a
person who first becomes a policeman | 15 | | under this Article on or after the effective date of this | 16 | | amendatory Act of the 97th General Assembly shall be increased | 17 | | on the January 1 occurring either on or after the attainment of | 18 | | age 60 or the first anniversary of the annuity start date, | 19 | | whichever is later. Each annual increase shall be calculated at | 20 | | 3% or one-half the annual unadjusted percentage increase (but | 21 | | not less than zero) in the consumer price index-u for the 12 | 22 | | months ending with the September preceding each November 1, | 23 | | whichever is less, of the originally granted retirement | 24 | | annuity. If the annual unadjusted percentage change in the | 25 | | consumer price index-u for a 12-month period ending in | 26 | | September is zero or, when compared with the preceding period, |
| | | HB3376 Enrolled | - 5 - | LRB097 08172 JDS 48296 b |
|
| 1 | | decreases, then the annuity shall not be increased. | 2 | | Notwithstanding any other provision of this Article, for a | 3 | | person who first becomes a policeman under this Article on or | 4 | | after January 1, 2011, the annuity to which the survivor is | 5 | | entitled under this subsection (d) shall be in the amount of 66 | 6 | | 2/3% of the policeman's earned annuity at the date of death. | 7 | | Nothing in this subsection (d) shall act to diminish the | 8 | | survivor's
benefits described in this Section. | 9 | | Notwithstanding any other provision of this Article, the | 10 | | monthly annuity
of a survivor of a person who first becomes a | 11 | | policeman under this Article on or after January 1, 2011 shall | 12 | | be increased on the January 1 after attainment of age 60 by the | 13 | | recipient of the survivor's annuity and
each January 1 | 14 | | thereafter by 3% or one-half the annual unadjusted percentage | 15 | | increase (but not less than zero) in the consumer price index-u | 16 | | for the
12 months ending with the September preceding each | 17 | | November 1, whichever is less, of the originally granted | 18 | | annuity. If the annual unadjusted percentage change in
the | 19 | | consumer price index-u for a 12-month period ending in | 20 | | September is zero or, when compared with the preceding period, | 21 | | decreases, then the annuity shall not
be increased. | 22 | | For the purposes of this subsection (d), "consumer price | 23 | | index-u" means the index published by the Bureau of Labor | 24 | | Statistics of the United States Department of Labor that | 25 | | measures the average change in prices of goods and services | 26 | | purchased by all urban consumers, United States city average, |
| | | HB3376 Enrolled | - 6 - | LRB097 08172 JDS 48296 b |
|
| 1 | | all items, 1982-84 = 100. The new amount resulting from each | 2 | | annual adjustment shall be determined by the Public Pension | 3 | | Division of the Department of Insurance and made available to | 4 | | the boards of the pension funds. | 5 | | (Source: P.A. 96-1495, eff. 1-1-11.)
| 6 | | Section 99. Effective date. This Act takes effect upon | 7 | | becoming law.
|
|